Binance Coin and Cardano Dominate as Bitcoin Consolidates
Despite the correction, Bitcoin’s price remains at $ 45,000.
Binance Coin and Cardano both rose 20% on the day.
The launch of AEB by Avalanche resulted in a 60% price increase
On February 10, bitcoin (BTC) saw its price drop just over 3% as the market consolidated. With this correction, Binance Coin (BNB) and Cardano (ADA) dominate the top 10 cryptocurrencies with massive gains.
On Wednesday February 10, Bitcoin experienced a day of decline in its price, entering into consolidation . The recent rally to a high of $ 48,120 was followed by a slight correction . However, the price still remains firmly above $ 45,000. It is assumed here that Bitcoin is only consolidating before another all-time high, possibly rising to $ 50,000.
While Bitcoin is on a hiatus, altcoins have been given some breathing space. Among the top 10 winners are Binance Coin and Cardano. Both posted impressive rallies on February 10.
Binance Coin on the fly
Binance Coin slowly crept into the top 7 following a rally that saw BNB price hit a new record high of $ 144. The price rose by over 100% in two days, making BNB one of the top 10 performing cryptocurrencies.
Binance CEO Changpeng Zhao commented on the price hike, calling for action as BNB climbed a fifth straight day at its all-time high.
Cardano strengthens in 4th place
Cardano recently fought for fourth place in the cryptocurrency rankings, against XRP and polkadot (DOT). However, the 23% price hike on February 10 means the ADA is now clearly taking control of fourth place.
Cardano posted an impressive rally that took the price from $ 0.34 just ten days ago to $ 0.83.
Cardano now sits at $ 4 billion in market cap, ahead of XRP. Now all he has to do is worry about Polkadot, who is just behind. That said, BNB is also on course to fight XRP and DOT for fifth place.
The altcoin market is heating up
While Bitcoin appears to be resting, altcoins benefited from a lot of movement in the green on Wednesday, February 10. The total market cap fell 2.50%, while the altcoin market cap was little changed. The best-earning altcoin in the top 100 was AVAX .
Avalanche (AVAX) leads the way in the top 100
The Avalanche price has seen a dramatic increase of 60%, placing the project in 17th position. AVax’s price rose from $ 27 to over $ 50, pushing its total market cap to $ 4 billion.
This recent rise in price is apparently linked to the latest Avalanche announcement. The company announced the Avalanche-Ethereum Bridge (AEB), which is now in service. AEB will allow DeFi (decentralized finance) users to seamlessly move assets between two blockchain ecosystems. One of the main advantages of this solution is the elimination of high fees.